BrokerXP is a new broker in the market specialized in trading with Forex and CFD options. This broker combines the next generation trading options with user-friendly and easy understand platform. BrokerXP offers its traders different conditions for both professional and novice in trading. This way, according to their website, all traders can benefit from trading with BokerXP on a different level.
In this review, we will try to explain all the settings, tools and features that are available with BrokerXP so we advise all traders to read our review to the end.
Broker XP Reviews
When you start the registration process at BrokerXP, you will understand how to easily create a trader’s account. All you have to do is enter your first name, last name, phone number, email address and password.
When you click ‘create account’ option you will have two choices: make a deposit option or create a demo account. All traders have the ability to use a demo account with all the tools and features enabled on the real account. To test all the features on the demo account, BrokerXP offers you the choice of leverage and the balance you want to use during the trading.
The demo account is, of course, a recommendation to all traders, from beginner to experts. In this way, you are better acquainted with the broker and have a better insight into all the features BrokerXP can provide you. Also, with the help of a demo account, you can make an easier decision about the initial deposit.
It’s important to note that the money on the demo account is virtual and therefore cannot be withdrawn or used in combination with a live account.
BrokerXP provides you with a large range of over 100+ assets, 70+ forex currency pairs, binary options, and CFDs. All this is enabled through the Metatrader4 platform, which is certainly very popular among all market traders.
Metatrader4 download is enabled for all traders using the Windows or iOS operating system. You can also download it for android systems with the google play store. In addition to the Metatrader 4 platform, Broker XP offers an Academy tab that will surely bring you closer to the way you trade and explain the specific feature in detail.
From the academy that attracted our attention, we can list: beginners course, trading tools, in-depth course, CFDs and stocks, trading strategies, binary strategies, MT4 tutorials, Forex ebook and many others.
BrokerXP MetaTrader4
As we said before, the trading process takes place on the Metatrader4 platform. This world-leading platform enables all traders to have detailed market analysis and personal consultants that help traders during trading.
Minimum deposit with BrokerXP is $500.
What the broker XP states as the main trading benefits are:
- Back tested strategies – These strategies let you test trading strategies which as a trade example for every trade in the future MetaTrader4 – There are no trading restrictions with MT4platform. Trades are fast and interface is user-friendly
- MetaTrader4 – There are no trading restrictions with MT4platform. Trades are fast and interface is user-friendly
- Low-Cost Trading – Minimum deposit of $500 and spreads from 0.0 pips
- High-Frequency Trading – HFT technology provides for trader’s liquidity and pricing for all assets
One of the things that are important to note is Webtrader. In order to trade with BrokerXP, it is not necessary to download the MT4 platform. Traders can also trade directly in the web browser via the Webtrader interface.
Also, BrokerXP consists different analysis of the market, news, trends, bonuses. From time to time, traders will gain special promotions or popularly called bonuses from BrokerXP. They are usually considered like non-deposit funds which means that they are for trading purposes only and cannot be withdrawn.
We advise every trader to read more about bonuses and other special promotions under FAQ rules. Also, it is important to meet all Terms and Conditions listed on broker website because we think that education and knowledge about the broker are the first steps to become a successful trader.
Islamic Account
BrokerXP Islamic account is fully compliant with Sharia Law. This way all the traders interested in this type of a trading are available to trade with BrokerXP. There are no additional commissions, interest costs, and payments. Also, there are no rollover charges or additional credits on overnight positions.
BrokerXP Legit or Scam?
When writing a broker’s review for most traders, the main question is: “Does this broker have customer support and how often is it available?” The answer to this questions for BrokerXP is really simple: Yes, they have a customer support and it is available 24/7. But not only this, traders can contact personal trading agents to help them with trading and deposit/withdrawal options.
Also, you can contact BrokerXP team by sending an email or through the telephone numbers listed on the broker website.
It is very important to have access to information at any time, especially when you want to know more or some feature is not clear. BrokerXP team stands at your service at any time and will ensure that your trading is simple and fun.
BrokerXP Minimum Deposit
BrokerXP offers a wide range of payment methods for deposit: credit cards/debit cards, electronic payment methods, bank wire transfer, local bank transfer, E-wallets etc.
After you open a trading account, you can log into your Members Area, select a payment method and follow the instructions given. All requests are completed in a few seconds. Also, you can find more details about deposit methods on FAQ page.
BrokerXP does not charge any fees for deposit or withdrawal options. Minimum deposit is $500 and minimum withdrawal amount is $100. The withdrawal process is transferred to the same card or other option that you used for a deposit option. This can change only if a trader used several deposit options.
In order to make a withdrawal trader account must be validated. This means that each trader needs to upload documents such as ID, passport, driving license etc. Once you receive a confirmation and account is validated you can request the fund’s withdrawal.